Conventional in the prior art is a type of blade sharpening arrangement generally consisting of a blade retaining device provided with honing tool guide means, and a honing tool provided with a rod portion cooperating with the guide means of the retaining device for running a honing surface of the tool along the cutting edge of the tool. Typically, the guide means comprises a fixed opening in an upright portion of the retaining device. Although such prior art devices have been satisfactory in use, they further have been found not to be entirely suitable in terms of effectiveness in use and precision in positioning and guiding the honing portion of the honing tool. Accordingly, it the principal object of the present invention to provide in assembly of the general type described which is functional in easily, effectively and precisely positioning the honing portion of the honing tool with selected portions of a retained blade being sharpened, and assuring the desired angle of engagement of the honing portion of the tool with the cutting edge of the blade. It further is an object of the present invention to provide such a honing tool in which the honing segment of the tool may be readily attached to and detached from the tool.